The Manufacturers Life Insurance Company Has $1.12 Million Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

The Manufacturers Life Insurance Company increased its position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 70.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 480,381 shares of the company’s stock after buying an additional 198,231 shares during the period. The Manufacturers Life Insurance Company owned 0.23% of Allogene Therapeutics worth $1,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ALLO. Bourgeon Capital Management LLC increased its holdings in Allogene Therapeutics by 12.8% in the first quarter. Bourgeon Capital Management LLC now owns 57,200 shares of the company’s stock worth $256,000 after buying an additional 6,500 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Allogene Therapeutics by 66.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 32,348 shares of the company’s stock worth $145,000 after buying an additional 12,881 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Allogene Therapeutics by 85.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 361,913 shares of the company’s stock valued at $1,768,000 after purchasing an additional 166,433 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Allogene Therapeutics during the first quarter valued at approximately $1,280,000. Finally, Headlands Technologies LLC acquired a new position in Allogene Therapeutics during the first quarter valued at approximately $78,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

Analyst Ratings Changes

ALLO has been the topic of several analyst reports. Citigroup increased their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a report on Thursday, August 15th. Canaccord Genuity Group lowered their price target on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Oppenheimer began coverage on shares of Allogene Therapeutics in a research note on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price objective on the stock. Finally, Truist Financial restated a “buy” rating and issued a $14.00 price objective (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Price Performance

Shares of ALLO stock opened at $2.65 on Friday. The stock has a market cap of $554.14 million, a P/E ratio of -1.65 and a beta of 0.83. Allogene Therapeutics, Inc. has a one year low of $2.01 and a one year high of $5.78. The stock has a fifty day moving average price of $2.62 and a 200 day moving average price of $2.82.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Allogene Therapeutics had a negative return on equity of 50.24% and a negative net margin of 223,139.98%. Equities research analysts anticipate that Allogene Therapeutics, Inc. will post -1.38 EPS for the current year.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).